According to the latest figures from Action Fraud, the average loss from pension scams has reached £50,949 this year. This figure is more than double the typical figure of £23,689 reported last year. Action Fraud claimed that losses in each case ranged from less than...
Three schemes launched on 1 July will deal with VAT on business-to-consumer supplies of goods and services to EU customers. They are known as the ‘Union’, ‘non-Union’ and ‘import’ schemes. The schemes are designed to facilitate the...
HMRC has announced that it will recover over £1 billion in fraudulently claimed furlough cash over the next two years. More than £60 billion has been claimed in furlough funds by UK employers since the introduction of the Coronavirus Job Retention Scheme (CJRS) in...
The G7’s finance ministers have announced a historic international agreement on global tax reform. Finance ministers have held years of discussions and have now agreed to reforms, which they say will see multinationals pay their fair share of tax in the...
The fifth Self-employment Income Support Scheme (SEISS) grant covering May 2021 to September 2021 will open to claims from late July, HMRC has confirmed. To be eligible for the grant, an individual must be self-employed or a member of a partnership. They must have...
It has been confirmed that the temporary Trade Credit Reinsurance (TCR) Scheme will close at the end of June. The scheme has helped struggling supply chain firms secure insurance protection during the pandemic. In a statement, the government and the Association of...
Despite the country still being in lockdown, the UK’s unemployment rate fell slightly to 4.8% in the three months to March. According to the Office of National Statistics (ONS) unemployment fell by 0.1% from 4.9% in February. The number of payroll employees...
The Institute of Directors (IoD) has carried out a survey and found that, once the coronavirus (COVID-19) lockdown restrictions are fully lifted, businesses are planning to adopt so-called ‘hybrid’ working . The survey of 600 business leaders revealed that...
According to research carried out by the Resolution Foundation, the coronavirus (COVID-19) pandemic has caused the biggest annual employment reduction for older workers since the 1980s. In a new report, the Foundation revealed that the pandemic has created ‘a...
HMRC has confirmed that the online service for applications for the fourth Self-employment Income Support Scheme (SEISS) grant is now open for claims. Applications cannot be handled by accountants or tax advisers and therefore must be submitted by the individual...
